A rapidly changing business environment
It’s no secret that the current business climate in Australia is challenging.
As a business leader, you’re facing issues including:
• A high Australian exchange rate
• International and online competition, which forces changes
• A slowdown of the mining boom
• The likelihood of greater government budget austerity
• Massive technology changes
• Booming Australian agribusiness.
Each of these challenges presents difficulties and potential barriers. However, there are also outstanding opportunities for growth, such as new business models, services, cost reduction programs and supply chains.
The key is to determine your current position and your prospects. Then create a plan for sustainable growth and get started.
Who will the winners and losers in this business environment be?
Winners will be those who are growth ready.
Winners are growth ready because they:
• Find innovative, differentiated ways to market, produce and deliver these services
• Base their future products and services on validated customer needs
• Embrace outsourcing, collaboration and the value of competitive intellectual property
• Have highly scalable business models
• Can live within their cash flows – with a margin for downturn (no one gets it right all the time)
• Continually seek to build the value of their businesses through increasing profit, sales, and leanness.
Losers will be those who:
• Fail to invest in continual development of better, differentiated products and better ways to sell them
• Don’t continually validate the value customers place of their products
• Stay with conventional business models because “that’s the way we do things”
• Do not have scalable businesses
• Continually live on the cash flow edge – barely one step ahead of their creditors and trying to stay in
business by cost cutting
• Fail to build the value of their businesses, so if an exit is necessary, there’s nothing there
• Blame “the Government”.
Winners will also be those who recognise the gap that exists between them and the completion of their goals. We call this the Growth Readiness Gap. Learn more by clicking here.
Ready to get started on the winning path? Enquire now to access the Sustainable Growth Self-Assessor tool.